NextEra Energy Partners, LP Q1 Adj. EBITDA Rises - Quick Facts

(RTTNews) - NextEra Energy Partners, LP (NEP) reported a first-quarter loss per unit of $3.39 compared to a loss of $0.38, previous year. Adjusted EBITDA increased to $294 million from $225 million. Cash available for distribution was $130 million compared to $43 million. Including all contributions from the Desert Sunlight projects, cash available for distribution would have been $135 million for the first quarter of 2020.

First quarter total operating revenues increased to $212 million from $177 million, last year.

NextEra Energy Partners, LP stated that the partnership currently expects no material financial or operational impacts as a result of the COVID-19 pandemic.

The board of NextEra Energy Partners declared a quarterly distribution of $0.555 per common unit to the unitholders of NextEra Energy Partners. The distribution will be payable on May 15, 2020, to unitholders of record as of May 7, 2020.

NextEra Energy Partners' expectations of run-rate adjusted EBITDA and cash available for distribution for year-end 2020 remain unchanged.